Leading lender Aave tests institutional-oriented “pools” as it fights institutional battles

AAVE token price has risen 33% in the last 24 hours

Decentralized lending leader Aave has dived into the institutional market first, with co-founder Stani Kulechov revealing on Twitter that Aave is testing a “private pool” dedicated to institutions.

Leading lender Aave tests institutional-oriented "pools" as it fights institutional battles

The news started when a user tweeted about his address being “blacklisted” due to Aave’s anti-money laundering requirements.

Leading lender Aave tests institutional-oriented "pools" as it fights institutional battles

Kulechov himself replied that it was a system bug and that the alert text should be related to another pool being tested, and when asked if it involved a compliance review function, Kulechov confirmed that it was for institutions to “practice” before participating in the DeFi ecosystem.

And Ajit Tripathi, head of institutional business development at Aave, said in an interview with Cointelegraph that the “private pool” description in Kulechov’s Tweet was a poor choice of words and that Aave is designing a licensing pool specifically for institutions that will be located on the The pool will be located on the public chain and is designed to be AML compliant, with KYC verification required for all users. The pool will likely be connected to the main network, Tripathi said, adding, “This is a great solution to facilitate collaborative learning between cefi and defi.”

Institutional adoption of cryptocurrencies has gradually expanded, but currently Bitcoin is the only one accepted by institutions.

DeFi, an untapped market for institutions, is also a major contender for major protocols, and institutional access to DeFi may begin with one of the lending protocol giants.

Leading lender Aave tests institutional-oriented "pools" as it fights institutional battles

The data shows that the price of the AAVE token has risen 33% in the last 24 hours, trading at $578 at the time of writing. the total value of AAVE’s TVL has surpassed $12.2 billion, second only to MakerDAO.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/leading-lender-aave-tests-institutional-oriented-pools-as-it-fights-institutional-battles/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-05-13 18:22
Next 2021-05-13 18:27

Related articles